Philippines - Beef (Cattle Meat) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingBeef Price in the Philippines - 2023
Contents:
- Beef Price in the Philippines (CIF) - 2023
- Beef Price in the Philippines (FOB) - 2022
- Beef Imports in the Philippines
- Beef Exports in the Philippines
Beef Price in the Philippines (CIF) - 2023
In June 2023, the average beef import price amounted to $3,446 per ton, leveling off at the previous month. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in February 2023 when the average import price increased by 10% month-to-month. Over the period under review, average import prices hit record highs at $3,872 per ton in July 2022; however, from August 2022 to June 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Australia ($4,611 per ton), while the price for Ireland ($2,684 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Belgium (+0.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Beef Price in the Philippines (FOB) - 2022
In 2022, the average beef export price amounted to $3,282 per ton, with a decrease of -32.3% against the previous year. In general, the export price, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2021 when the average export price increased by 93%. As a result, the export price attained the peak level of $4,848 per ton, and then shrank rapidly in the following year.
Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were the United Arab Emirates ($3,326 per ton) and Brunei Darussalam ($3,223 per ton), while the average price for exports to India ($2,612 per ton) and Qatar ($3,074 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+203.3%), while the prices for the other major destinations experienced more modest paces of growth.
Beef Imports in the Philippines
In 2022, the amount of beef (cattle meat) imported into the Philippines soared to 176K tons, jumping by 18% compared with 2021. In general, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +12.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 28%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.
In value terms, beef imports skyrocketed to $646M in 2022. Overall, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +15.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.2% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 36%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.
| Import of Beef in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Brazil | 100 | 107 | 149 | 225 | 31.0% |
| India | 84.9 | 83.2 | 130 | 138 | 17.6% |
| Australia | 85.5 | 65.9 | 93.6 | 112 | 9.4% |
| United States | 53.3 | 34.9 | 32.5 | 78.1 | 13.6% |
| Ireland | 31.3 | 31.4 | 35.5 | 34.9 | 3.7% |
| New Zealand | 11.3 | 8.0 | 12.1 | 25.5 | 31.2% |
| Others | 48.4 | 55.5 | 73.2 | 31.5 | -13.3% |
| Total | 415 | 386 | 526 | 646 | 15.9% |
Top Suppliers of Beef to the Philippines in 2022:
- Brazil (65.0K tons)
- India (47.6K tons)
- Australia (21.5K tons)
- United States (16.5K tons)
- Ireland (10.8K tons)
- New Zealand (5.1K tons)
Beef Exports in the Philippines
In 2022, exports of beef (cattle meat) from the Philippines soared to 46 tons, with an increase of 51% compared with the year before. Over the period under review, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 127% against the previous year. As a result, the exports reached the peak of 62 tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, beef exports totaled $151K in 2022. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 286% against the previous year. As a result, the exports attained the peak of $155K. From 2021 to 2022, the growth of the exports remained at a lower figure.
| Export of Beef in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 13.8 | 68.3 | 79.3 | 87.1 | 84.8% |
| Brunei Darussalam | 4.4 | 26.5 | 21.0 | 23.1 | 73.8% |
| India | 8.1 | 30.3 | 16.3 | 17.9 | 30.3% |
| Qatar | 7.3 | 25.7 | 14.4 | 16.5 | 31.2% |
| Oman | 5.8 | N/A | N/A | N/A | 0% |
| Others | 0.7 | 3.9 | 16.7 | 6.6 | 111.3% |
| Total | 40.0 | 155 | 148 | 151 | 55.7% |
Top Export Markets for Beef from the Philippines in 2022:
- United Arab Emirates (26.2 tons)
- Brunei Darussalam (7.2 tons)
- India (6.8 tons)
- Qatar (5.4 tons)
This report provides an in-depth analysis of the beef market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 947 - Buffalo meat
- FCL 867 - Meat of cattle
Country coverage:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, PRODUCING ANIMALS AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Producing Animals Slaughtered, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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